Econometrics

Econometrics may be defined generally as the "application of mathematics and statistical methods to the analysis of economic data." Theoretical econometrics considers questions about the statistical properties of estimators in an economic model. Those properties may permit testing an economic hypothesis as to its acceptance or rejection on the basis of statistical inferences from the available data set.

By: Montana.Census and Economic Information Center

By: Montana.Census and Economic Information Center

By: Sal Khan

Using real GDP as a measure of actual productivity growth

Circular flow of income and expenditure. Gross domestic product. The value of a currency is constantly changing (usually going down in terms of what you can buy). Given this, how can we compare GDP measured in dollars in one year to another year? This tut

By: Sal Khan

Relationship between the GDP deflator, nominal GDP and real GDP

Circular flow of income and expenditure. Gross domestic product. The value of a currency is constantly changing (usually going down in terms of what you can buy). Given this, how can we compare GDP measured in dollars in one year to another year? This tut

By: Sal Khan

Simple example of calculating Real GDP from Nominal GDP

Circular flow of income and expenditure. Gross domestic product. The value of a currency is constantly changing (usually going down in terms of what you can buy). Given this, how can we compare GDP measured in dollars in one year to another year? This tut

By: Sal Khan

Thinking about how different types of expenditures would be accounted for in GDP

Circular flow of income and expenditure. Gross domestic product. You already understand the circular nature of the economy and how GDP is defined from the last tutorial. Now let's think about how economists define the composition of GDP. In particular, we

By: Sal Khan

Understanding the components of the expenditure view of GDP. Consumption, investment, government spending and net exports

Circular flow of income and expenditure. Gross domestic product. You already understand the circular nature of the economy and how GDP is defined from the last tutorial. Now let's think about how economists define the composition of GDP. In particular, we

By: Sal Khan

Looking at a simple model of an economy

Circular flow of income and expenditure. Gross domestic product. You already understand the circular nature of the economy and how GDP is defined from the last tutorial. Now let's think about how economists define the composition of GDP. In particular, we

By: Sal Khan

What happens when a good is not finished in a period

Circular flow of income and expenditure. Gross domestic product. Economics can some times get confusing because one person's expenditure is another person's income which can then be used for expenditure and on and on and on. Seems very circular. It is. Th